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Landlord property purchases down 31% in Q3

Landlords added an average of 1.8 properties to their portfolios in the third quarter, down from 2.6 in the second.

The BDRC Continental Landlord Panel research for the third quarter reveals the average number of properties purchased by landlords in the third quarter was down 31 per cent in relation to the second, from 2.6 to 1.8 and has now slowed to the same rate as the first quarter when the average was 1.8.

The national average for number of properties in a portfolio is 10.7.

Paragon Mortgages managing director John Heron says: “All the market data is telling us that demand for rented property remains very high and in key areas is outstripping supply by some margin. This survey indicates clearly that landlords are responding by adding property to their portfolios but the market still needs more if we are to see affordability improve for renters.”

Landlords in the North East have the largest portfolios, averaging 22.8 properties, followed by those in the East of England with an average of 13.5. Central London landlords hold an average of 12.8.

Terraced houses are the most preferred rental property proposition among landlords, according to independent research commissioned by Paragon Mortgages.

The research shows 58 per cent of landlords owned terraced properties while 53 per cent say they hold flats in their portfolios and 44 per cent own semi-detached houses.

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